During the year ended December 31, 2011, Bondin, Inc., split its stock on a 3-fo
ID: 2375856 • Letter: D
Question
During the year ended December 31, 2011, Bondin, Inc., split its stock on a 3-for-1 basis. In its annual report for 2010, the firm reported net income of $980,000 for 2010, with an average 251,900 shares of common stock outstanding for that year. There was no preferred stock.
What amount of net income for 2010 will be reported in Bondin's 2011 annual report? (Omit the "$" sign in your response.)
Calculate Bondin's earnings per share for 2010 that would have been reported in the 2010 annual report. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Calculate Bondin's earnings per share for 2010 that will be reported in the 2011 annual report for comparative purposes. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
During the year ended December 31, 2011, Bondin, Inc., split its stock on a 3-for-1 basis. In its annual report for 2010, the firm reported net income of $980,000 for 2010, with an average 251,900 shares of common stock outstanding for that year. There was no preferred stock.
Explanation / Answer
Required:
(a)
What amount of net income for 2010 will be reported in Bondin's 2011 annual report? (Omit the "$" sign in your response.)
Net Income
$
(b)
Calculate Bondin's earnings per share for 2010 that would have been reported in the 2010 annual report. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Earnings per share
$
(c)
Calculate Bondin's earnings per share for 2010 that will be reported in the 2011 annual report for comparative purposes. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Earnings per share
$
Required:
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